Find the receipt showing the cost basis of industrial oven

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Question: During an audit of ABC company an IRS agent could not find the receipt showing the cost basis of an industrial oven. However there are documents indicating that ABC used a six year straight line depreciation based on an expected $85,000 salvage value & that they took an annual depreciation charge of $105,000. State here below the book value of the oven after 3 years.

Reference no: EM131941310

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